{"id":1596,"date":"2022-01-11T01:49:24","date_gmt":"2022-01-11T01:49:24","guid":{"rendered":"https:\/\/uk.legalvision.com.au\/?p=1596"},"modified":"2024-05-14T01:40:50","modified_gmt":"2024-05-14T00:40:50","slug":"signing-franchise-agreement-what-should-i-know","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/franchising\/signing-franchise-agreement-what-should-i-know\/","title":{"rendered":"I Am Signing a Franchise Agreement. What Should I Know?"},"content":{"rendered":"\n<p><span style=\"font-weight: 400\">Signing a franchise agreement in England and Wales can be a convoluted and confusing process for potential franchisees. Franchise agreements usually come in the form of lengthy legal documents accompanied by a <a href=\"https:\/\/legalvision.co.uk\/franchising\/how-should-i-use-franchise-disclosure-document\/\">franchise disclosure document<\/a>. Additionally, navigating all of the legal and commercial terms is no easy task. However, there are some key points and themes to keep in mind as you read through your franchise agreement. This article will outline some of those key points and offer guidance on the process of signing a franchise agreement.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">What is a Franchise Agreement?<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">A franchise agreement will be entered into if you want to become a franchisee of a franchise business. The franchise agreement itself will contain the commercial and legal relationship between the franchisor and the franchisee. This might include, for example, your obligations as a franchisee to:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">pay the <a href=\"https:\/\/legalvision.co.uk\/franchising\/what-franchise-fees-will-i-need-to-pay\/\">franchise fee<\/a>;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">deliver on performance criteria; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">operate your business in a certain area.<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400\">Similarly, it might include the franchisor\u2019s obligation to:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">provide equipment;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">organise marketing arrangements;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">provide assistance and support; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">deal with client enquiries.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">What is a Franchise Disclosure Document?<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">The franchise disclosure document will usually come with the franchise agreement. This is a legal document outlining some key points you should know before going into a franchise agreement. In particular, it will touch on 23 main points, which will include:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">franchise fees;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">whether the franchisor will have a legal obligation to be involved in the actual operation of your business; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">financial statements from the franchisor.<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400\">The franchise disclosure document can also include details on:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">the franchisor&#8217;s trade mark and <a href=\"https:\/\/legalvision.co.uk\/intellectual-property\/business-intellectual-property\/\">intellectual property<\/a>;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">the franchise relationship;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">the franchisor&#8217;s standards; and\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">your future access to a potential operations manual.\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400\">These key provisions will be important for carving out your future business plans as they also touch on the legal terms on which you will enter your franchise agreement.&nbsp;<\/span><\/p>\n\n\n\n<div class=\"box box--icon box--idea\">\n<p><span style=\"font-weight: 400\">You should use the franchise disclosure document as part of your due diligence process. Due diligence is the research that you do before entering into an agreement. The disclosure document will be the basis of your later due diligence. Therefore, you should make sure that you understand its details.&nbsp;<\/span><\/p>\n<\/div>\n\n\n\n\n<a href=\"#content-next\"\n   class=\"block p-4 mt-10 text-xl font-bold text-center text-white no-underline bg-gray-800 rounded-t-xl\">\n    Continue reading this article below the form\n    <i class=\"text-xl fa-regular fa-arrow-down\"><\/i>\n<\/a>\n<div class=\"px-6 pt-10 pb-12 mb-10 text-center bg-gray-100 rounded-b-xl sm:px-12 test\">\n    <div class=\"mb-8 text-2xl font-bold text-orange\">\n        Need legal advice?\n        <br>\n        <span class=\"text-lg not-prose\">\n                            Call <a href=\"tel:+448081968584\" class=\"not-prose\">0808 196 8584<\/a> for urgent assistance.\n                <br>\n                Otherwise, complete this form, and we will contact you within one business day.\n                    <\/span>\n    <\/div>\n\n    \n\n<div class=\"not-prose flex justify-center text-left gform_input_bg_white    \">\n    <script>\nvar 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Additionally, it includes ongoing fees and obligations, such as royalties. For your franchise agreement to be in your interest, the franchise fees should be outweighed by the benefits of your franchise agreement.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">What Are the Benefits That I Will Receive as Part of the Franchise Agreement?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">The reason you would enter into a franchise agreement in the first place is because it allows you to run a business with an established business model. Generally, this provides a higher chance of success. However, it should be profitable for you in the long term, given the franchise fees.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">The agreement can also be beneficial for many other reasons. For example, the franchise agreement may give you access to: <\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">an operations manual of the franchise business. This could be very beneficial if the franchisor has access to valuable information, such as about the business\u2019 industry;<\/span><\/li>\n\n\n\n<li>a trade mark, such as the franchisor&#8217;s brand or image. As the franchise is an established brand, you save yourself the cost of developing your own brand; and<\/li>\n\n\n\n<li>the franchisor&#8217;s involvement in the operation of your business. This could be valuable in a number of ways. For example, the franchisor may give you access to their supply chains or their products. This could potentially cut costs for your business. Further, if the franchisor has expertise in running certain businesses, they could use this to make your business appealing to customers.\u00a0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">What Should I Know Before Signing?<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">Given all of this, there are some key things to know before signing.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">First, you should know the benefits you will receive and whether those benefits outweigh the franchise fees. As part of this, you should know the payment terms and how the franchisor can help your business.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">Second, you should know your legal obligations to the franchisor. You should seek legal advice to understand the details of your legal obligations fully. A franchise opportunity can seem like a good way of running a business, but you should make sure that you do not agree to obligations that are difficult to keep in the long term.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">Finally, you should also know whether the franchisor is in any legal disputes that can affect your business. Again, they should disclose this in the franchise disclosure document.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Key Takeaways<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">Before you sign a franchise agreement, you should know your commercial and legal obligations to the franchisor. This will determine your relationship in the future. It will also be important for assessing whether a franchise agreement is right for your business. The benefits of signing the franchise agreement should outweigh the costs. Therefore, you should know exactly what the franchisor is offering you, as well as your payment terms.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">For help regarding franchise agreements, <\/span><a href=\"https:\/\/legalvision.co.uk\/franchise-lawyers-lp\/\"><span style=\"font-weight: 400\">LegalVision\u2019s franchise lawyers<\/span><\/a><span style=\"font-weight: 400\"> can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on <\/span><span style=\"font-weight: 400\"><a href=\"tel:+448081968584\" class=\"AVANSERnumber dynamic-number\">0808 196 8584<\/a> <\/span><span style=\"font-weight: 400\">or visit our <\/span><a href=\"https:\/\/legalvision.co.uk\/membership\"><span style=\"font-weight: 400\">membership page<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Frequently Asked Questions<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1641865293965\"><strong class=\"schema-faq-question\">Can I find out who the previous franchisees are?<\/strong> <p class=\"schema-faq-answer\">Yes, if there are any current or previous franchisees, these should be disclosed in the franchise disclosure document. It is recommended that you get into contact with them to hear about their experience before entering into your franchise agreement.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1641865302248\"><strong class=\"schema-faq-question\">Can I negotiate the terms of the franchise agreement?<\/strong> <p class=\"schema-faq-answer\">Yes, it is recommended that you do so, and you should seek legal advice if you are planning to <a href=\"https:\/\/legalvision.co.uk\/franchising\/negotiate-franchise-agreement-terms\/\">negotiate aspects of your legal obligations<\/a>.\u00a0<\/p> <\/div> <\/div>\n<div class=\"not-prose m-feedback-prompt\">\n    <!-- Thumbs up\/down bar -->\n    <div class=\"m-feedback-prompt__main\">\n        <div class=\"m-feedback-prompt__title\">Was this article helpful?<\/div>\n        <div>\n            <!--span class=\"m-feedback-prompt__button--text\">Thanks!<\/span-->\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--yes\"\n                    data-analytics-link=\"feedback-prompt:yes\" aria-label=\"Agree\">\n                <i class=\"fa-regular fa-thumbs-up fa-3x\"><\/i>\n            <\/button>\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--no\"\n                    data-analytics-link=\"feedback-prompt:no\" aria-label=\"Disagree\">\n                <i class=\"fa-regular fa-thumbs-down fa-3x\"><\/i>\n            <\/button>\n        <\/div>\n    <\/div>\n\n    <!-- Feedback form -->\n    <div class=\"m-feedback-prompt__form\">\n        <div class=\"m-feedback-prompt__form--thanks \">\n            <div>Thanks!<\/div>\n            <p>\n                We appreciate your feedback \u2013 your submission has been successfully received.            <\/p>\n        <\/div>\n        <form id=\"contact-form\" class=\"m-feedback-prompt__form--form\" action=\"\" method=\"post\">\n            <input type=\"hidden\" id=\"authenticity_token\" name=\"authenticity_token\" value=\"9eb4f72322\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/api\/wp\/v2\/posts\/1596\" \/>            <input value=\"https:\/\/legalvision.co.uk\/franchising\/signing-franchise-agreement-what-should-i-know\/\" type=\"hidden\" name=\"currenturl\"\n                   id=\"currenturl\">\n            <input value=\"I Am Signing a Franchise Agreement. What Should I Know?\" type=\"hidden\" name=\"currenttitle\"\n                   id=\"currenttitle\">\n            <label>\n                <!-- display on thumbs-up -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--yes\">\n                    Can you tell us <span class=\"font-semibold\">why<\/span> you found it helpful?\n                <\/span>\n\n                <!-- display on thumbs-down -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--no text-lg\">\n                    How can we better improve this article?\n                <\/span>\n                <textarea name=\"feedbackmessage\" id=\"feedbackmessage\" required><\/textarea>\n            <\/label>\n\n            <div class=\"m-feedback-prompt__form--error\" id=\"form-submit-error\"><\/div>\n            <button id=\"submit-contact-form-button\" type=\"submit\" name=\"commit\" class=\"m-feedback-prompt__form--submit\"\n                    data-analytics-link=\"feedback-prompt:submit\">\n                Submit            <\/button>\n        <\/form>\n    <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Signing a franchise agreement in England and Wales can be a convoluted and confusing process for potential franchisees. Franchise agreements usually come in the form of lengthy legal documents accompanied by a franchise disclosure document. Additionally, navigating all of the legal and commercial terms is no easy task. However, there are some key points and<a href=\"https:\/\/legalvision.co.uk\/franchising\/signing-franchise-agreement-what-should-i-know\/\">Continue reading <span class=\"sr-only\">&#8220;I Am Signing a Franchise Agreement. What Should I Know?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":13325,"featured_media":640,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"2860,1602,2790,1370,2526,3561","_relevanssi_noindex_reason":"","editor_notices":[],"footnotes":""},"categories":[33],"tags":[56,59,60,323,324],"class_list":["post-1596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-franchising","tag-franchisee","tag-franchise-fees","tag-franchisor-obligations","tag-franchise-disclosure-document","tag-franchise-agreement"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Signing a Franchise Agreement. 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What Should I Know?"}]},{"@type":"WebSite","@id":"https:\/\/legalvision.co.uk\/#website","url":"https:\/\/legalvision.co.uk\/","name":"LegalVision UK","description":"LegalVision is a commercial law firm in the UK with a commitment to innovation","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/legalvision.co.uk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/legalvision.co.uk\/#\/schema\/person\/af256d267e22e76c05804f9e847c85ed","name":"Efe Kati","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/legalvision.co.uk\/#\/schema\/person\/image\/","url":"https:\/\/legalvision.co.uk\/wp-content\/uploads\/sites\/4\/2022\/01\/cropped-Efe-Kati-e1642996836978-96x96.jpg","contentUrl":"https:\/\/legalvision.co.uk\/wp-content\/uploads\/sites\/4\/2022\/01\/cropped-Efe-Kati-e1642996836978-96x96.jpg","caption":"Efe Kati"},"description":"Efe is a qualified lawyer. He specialises in disputes and commercial transactions and has experience in commercial litigation in the UK. He has completed placements at various Chambers and white shoe law firms specialising in both contentious and transactional law, and served as a Parliamentary Intern in the House of Commons. In addition, he also has experience in advocacy through having worked at an international NGO. Qualifications: Masters of Laws (LLM), BPP Law School, BA, Jurisprudence, University of Oxford; MSc, Political Theory, London School of Economics and Political Science (LSE).","sameAs":["https:\/\/www.linkedin.com\/in\/efe-kati\/"],"url":"https:\/\/legalvision.co.uk\/author\/efekati\/"},{"@type":"Question","@id":"https:\/\/legalvision.co.uk\/franchising\/signing-franchise-agreement-what-should-i-know\/#faq-question-1641865293965","name":"Can I find out who the previous franchisees are?","acceptedAnswer":{"@type":"Answer","text":"Yes, if there are any current or previous franchisees, these should be disclosed in the franchise disclosure document. It is recommended that you get into contact with them to hear about their experience before entering into your franchise agreement.","inLanguage":"en-GB"},"inLanguage":"en-GB"},{"@type":"Question","@id":"https:\/\/legalvision.co.uk\/franchising\/signing-franchise-agreement-what-should-i-know\/#faq-question-1641865302248","name":"Can I negotiate the terms of the franchise agreement?","acceptedAnswer":{"@type":"Answer","text":"Yes, it is recommended that you do so, and you should seek legal advice if you are planning to <a href=\"https:\/\/legalvision.co.uk\/franchising\/negotiate-franchise-agreement-terms\/\">negotiate aspects of your legal obligations<\/a>.\u00a0","inLanguage":"en-GB"},"inLanguage":"en-GB"}]}},"_links":{"self":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts\/1596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/users\/13325"}],"replies":[{"embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/comments?post=1596"}],"version-history":[{"count":6,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts\/1596\/revisions"}],"predecessor-version":[{"id":187864,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts\/1596\/revisions\/187864"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/media\/640"}],"wp:attachment":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/media?parent=1596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/categories?post=1596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/tags?post=1596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}